Jubilant FoodWorks surges as its arm acquires stake in DP Eurasia N.V.
Jubilant FoodWorks is currently trading at Rs. 514.10, up by 5.80 points or 1.14% from its previous closing of Rs. 508.30 on the BSE.
The scrip opened at Rs. 508.30 and has touched a high and low of Rs. 514.40 and Rs. 508.30 respectively. So far 27232 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 586.35 on 22-Dec-2023 and a 52 week low of Rs. 412.20 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 535.65 and Rs. 505.85 respectively. The current market cap of the company is Rs. 33727.99 crore.
The promoters holding in the company stood at 41.94%, while Institutions and Non-Institutions held 49.88% and 8.18% respectively.
Jubilant FoodWorks’ wholly owned subsidiary--- Jubilant Foodworks Netherlands B.V. (JFN) has acquired 2,076,035 ordinary shares of DP Eurasia N.V. (DPEU), subsidiary company of JFN through market purchases for an aggregate consideration of GBP 2.26 million.
Earlier, JFN had received irrevocable undertakings to accept the increased offer by shareholders of DPEU representing approximately 30.3% of shareholding. As of January 25, 2024, JFN has received acceptances for 4,423,380 ordinary shares of DPEU representing approximately 3.02% of shareholding for an aggregate consideration of GBP 4.87 million.
Consequent to market purchases and upon settlement of the above-mentioned acceptances received till January 25, 2024, JFN will hold 59.11% of the share capital of DPEU. Notably, the final cash offer by JFN for the entire issued and outstanding share capital of DPEU not already owned by JFN at a price of 110 pence per DPEU share is valid till January 31, 2024.
Jubilant FoodWorks is India’s largest and fastest growing food service company. The company and its subsidiary operates Domino’s Pizza brand with exclusive rights for India, Nepal, Bangladesh and Sri Lanka.